NZD/USD Up 11 Pips in Last Hour, Came Into Today Down For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated July 15, 2022 1:46 GMT)

At the moment, NZDUSD’s rate is up 11 pips (0.18%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NZDUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDUSD is down 2 pips (0.03%) since the previous day (opening today near 0.6129), marking the 2nd straight day a decline has happened. Relative to other instruments in the Forex asset class, NZDUSD ranked 28th the previous day in terms of percentage price change. The price chart of NZDUSD below illustrates.

NZDUSD

NZDUSD Technical Analysis

The first thing we should note is that NZDUSD is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for NZDUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 10 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!